Bear Stearns to be Purchased by JPMorgan Chase for $2/Share
The huge scam known as Wall Street is clearly alive and kicking as former financial powerhouse Bear Stearns has free-fallen into oblivion, agreeing to be bought out by rival JPMorgan Chase for a measly $2 per share. The nest-egg of 14,000+ employees has effectively been wiped out, along with the fortunes of 1,000’s of other investors. Bear Stearns CEO Alan Schwartz proclaimed that the financial situation at BS was stable early last week. Was he lying? The millionaire CEO proclaimed on Friday that economic situations at the company suddenly took a turn for the worse over the previous 24 hours, sending shock waves through the market and sending Bear stock down a whopping $27 to $30/share. If you didn’t get out on Friday, you are completely screwed.
